Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Regeneron Pharmaceuticals Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Accounts payable	1,159,300)	1,027,100)	939,000)	903,800)	723,900)	705,500)	789,500)	497,300)	561,700)	671,300)	606,600)	536,600)	547,300)	599,500)	589,200)	535,600)	534,200)	470,300)	564,000)	427,000)	476,000)	542,900)
Accrued expenses and other current liabilities	2,966,500)	2,724,400)	2,876,400)	2,975,700)	2,461,200)	2,241,800)	2,527,100)	2,536,500)	2,360,900)	2,392,900)	2,357,900)	2,644,700)	2,176,000)	2,074,300)	2,074,200)	1,796,400)	1,933,400)	2,046,000)	2,206,800)	2,061,000)	2,018,000)	1,492,200)
Finance lease liabilities, current portion	720,000)	720,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	719,700)	719,000)	718,400)	717,800)
Deferred revenue	684,800)	636,200)	553,000)	545,600)	481,900)	619,300)	627,700)	627,200)	586,000)	516,700)	458,900)	417,300)	381,100)	426,300)	477,900)	547,200)	566,300)	491,300)	442,000)	507,800)	520,000)	464,900)
Current liabilities	5,530,600)	5,107,700)	4,368,400)	4,425,100)	3,667,000)	3,566,600)	3,944,300)	3,661,000)	3,508,600)	3,580,900)	3,423,400)	3,598,600)	3,104,400)	3,100,100)	3,141,300)	2,879,200)	3,033,900)	3,007,600)	3,932,500)	3,714,800)	3,732,400)	3,217,800)
Long-term debt	1,986,600)	1,986,200)	1,985,900)	1,985,500)	1,985,100)	1,984,800)	1,984,400)	1,984,000)	1,983,600)	1,983,300)	1,982,900)	1,982,600)	1,982,200)	1,981,800)	1,981,400)	1,981,100)	1,980,700)	1,980,400)	1,980,000)	1,979,600)	1,979,200)	1,978,900)
Finance lease liabilities, excluding current portion	—)	—)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	720,000)	—)	—)	—)	—)
Deferred revenue	220,400)	225,100)	208,700)	219,200)	206,300)	211,800)	185,700)	207,400)	205,600)	185,800)	126,700)	125,300)	116,200)	85,500)	69,800)	60,100)	58,700)	33,500)	73,300)	56,500)	50,700)	27,000)
Other noncurrent liabilities	2,281,600)	2,126,200)	2,018,800)	1,861,800)	1,701,900)	1,674,400)	1,571,400)	1,543,600)	1,463,200)	908,500)	854,100)	832,400)	716,800)	677,300)	638,000)	598,600)	724,700)	692,500)	680,200)	662,600)	596,300)	571,500)
Noncurrent liabilities	4,488,600)	4,337,500)	4,933,400)	4,786,500)	4,613,300)	4,591,000)	4,461,500)	4,455,000)	4,372,400)	3,797,600)	3,683,700)	3,660,300)	3,535,200)	3,464,600)	3,409,200)	3,359,800)	3,484,100)	3,426,400)	2,733,500)	2,698,700)	2,626,200)	2,577,400)
Total liabilities	10,019,200)	9,445,200)	9,301,800)	9,211,600)	8,280,300)	8,157,600)	8,405,800)	8,116,000)	7,881,000)	7,378,500)	7,107,100)	7,258,900)	6,639,600)	6,564,700)	6,550,500)	6,239,000)	6,518,000)	6,434,000)	6,666,000)	6,413,500)	6,358,600)	5,795,200)
Preferred Stock, par value $.01 per share; shares issued and outstanding: none	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Class A Stock, convertible, par value $.001 per share	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common Stock, par value $.001 per share	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)	100)
Additional paid-in capital	14,700,600)	14,401,300)	13,995,000)	13,787,300)	13,490,800)	13,192,100)	12,855,900)	12,702,800)	12,316,900)	11,942,600)	11,354,000)	11,251,500)	10,888,500)	10,597,700)	9,949,300)	9,518,200)	9,120,200)	8,754,100)	8,087,500)	7,919,300)	7,225,800)	6,887,800)
Retained earnings	37,621,400)	36,423,800)	35,797,100)	35,045,800)	33,680,200)	32,384,400)	31,672,900)	30,755,200)	29,414,600)	27,982,300)	27,260,300)	26,100,700)	25,092,900)	24,124,500)	23,306,700)	22,109,600)	20,793,900)	19,941,800)	18,968,300)	16,739,300)	15,107,100)	12,008,200)
Accumulated other comprehensive income (loss)	(35,800)	11,900)	77,500)	69,000)	52,500)	29,100)	(7,900)	60,200)	(69,900)	(77,200)	(80,900)	(176,800)	(197,700)	(181,600)	(238,800)	(275,100)	(223,800)	(170,100)	(26,200)	9,500)	15,700)	16,200)
Treasury Stock, at cost	(20,574,900)	(19,413,500)	(18,612,800)	(17,944,400)	(17,284,700)	(16,218,100)	(15,167,400)	(14,192,400)	(13,455,900)	(12,856,700)	(12,560,400)	(12,271,100)	(11,765,900)	(11,045,500)	(10,353,300)	(9,914,000)	(9,002,600)	(8,611,200)	(8,260,900)	(7,410,200)	(7,221,400)	(6,935,300)
Stockholders’ equity	31,711,400)	31,423,600)	31,256,900)	30,957,800)	29,938,900)	29,387,600)	29,353,600)	29,325,900)	28,205,800)	26,991,100)	25,973,100)	24,904,400)	24,017,900)	23,495,200)	22,664,000)	21,438,800)	20,687,800)	19,914,700)	18,768,800)	17,258,000)	15,127,300)	11,977,000)
Total liabilities and stockholders’ equity	41,730,600)	40,868,800)	40,558,700)	40,169,400)	38,219,200)	37,545,200)	37,759,400)	37,441,900)	36,086,800)	34,369,600)	33,080,200)	32,163,300)	30,657,500)	30,059,900)	29,214,500)	27,677,800)	27,205,800)	26,348,700)	25,434,800)	23,671,500)	21,485,900)	17,772,200)

The balance sheet reflects a period of substantial expansion in both the liability and equity bases from March 2021 through June 2026. Total liabilities and stockholders' equity grew from approximately $17.77 billion to $41.73 billion, indicating a significant increase in the overall size of the organization's capital structure.

Liability Trends and Composition: Total liabilities exhibited a consistent upward trajectory, rising from $5.79 billion in March 2021 to $10.02 billion by June 2026. This increase is primarily attributed to the growth in current liabilities, which escalated from $3.22 billion to $5.53 billion. Within this category, accounts payable showed a marked increase, particularly in the latter half of the period, ending at $1.16 billion. Accrued expenses and other current liabilities also trended upward, moving from $1.49 billion to $2.97 billion.; Noncurrent liabilities increased from $2.58 billion to $4.49 billion. A critical observation is the stability of long-term debt, which remained almost stagnant throughout the five-year period, hovering around $1.98 billion. The growth in noncurrent liabilities was instead driven by "Other noncurrent liabilities," which rose from $571.5 million to $2.28 billion, suggesting an increase in long-term obligations not related to traditional bank debt or bonds.
Stockholders' Equity and Capital Accumulation: Stockholders' equity grew aggressively, increasing from $11.98 billion in March 2021 to $31.71 billion by June 2026. The primary driver of this growth was retained earnings, which rose from $12.01 billion to $37.62 billion. This suggests a high capacity for internal capital generation and strong profitability over the analyzed period.; A significant trend is observed in the Treasury Stock account, which expanded from a negative value of $6.94 billion to $20.57 billion. This indicates a consistent and aggressive share repurchase program, effectively offsetting a portion of the gains in retained earnings and reducing the total number of shares outstanding.; Additional paid-in capital also saw a steady increase, rising from $6.89 billion to $14.70 billion, reflecting additional equity contributions or adjustments to the equity base.
Financial Solvency and Leverage Insights: The growth in stockholders' equity significantly outpaced the growth in total liabilities. While total liabilities increased by approximately 73%, stockholders' equity increased by approximately 165% over the same period. This shift indicates a strengthening of the solvency position and a decrease in the company's reliance on external leverage.; The stability of the long-term debt profile, coupled with the massive accumulation of retained earnings, suggests a conservative approach to debt financing and a preference for funding operations and growth through internal cash flows.

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Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data